Stifel Firstegy Analysts Boost Earnings Estimates for Canadian Natural Resources Limited (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ – Get Rating) (NYSE:CNQ) – Stock analysts at Stifel Firstegy raised their FY2023 EPS estimates for shares of Canadian Natural Resources in a research note issued to investors on Thursday, May 19th. Stifel Firstegy analyst R. Fitzmartyn now anticipates that the company will earn $10.80 per share for the year, up from their prior estimate of $10.25.

Several other equities analysts have also issued reports on CNQ. BMO Capital Markets boosted their price target on Canadian Natural Resources from C$92.00 to C$95.00 in a research note on Friday, May 6th. Scotiabank increased their price target on Canadian Natural Resources from C$64.00 to C$80.00 in a research report on Tuesday, March 8th. JPMorgan Chase & Co. upped their price objective on Canadian Natural Resources from C$66.00 to C$67.00 in a report on Friday, March 4th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Canadian Natural Resources in a report on Tuesday, January 25th. Finally, CSFB increased their price target on Canadian Natural Resources from C$85.00 to C$93.00 in a research note on Monday, May 9th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Buy” and a consensus target price of C$77.27.

Shares of TSE:CNQ opened at C$79.33 on Monday. Canadian Natural Resources has a fifty-two week low of C$37.82 and a fifty-two week high of C$88.18. The company has a debt-to-equity ratio of 44.06, a current ratio of 0.80 and a quick ratio of 0.56. The stock has a market capitalization of C$91.57 billion and a P/E ratio of 12.28. The business has a 50-day moving average of C$79.42 and a two-hundred day moving average of C$67.07.

Canadian Natural Resources (TSE:CNQ – Get Rating) (NYSE:CNQ) last announced its earnings results on Thursday, March 3rd. The company reported C$2.21 earnings per share for the quarter, beating the consensus estimate of C$2.11 by C$0.10. The business had revenue of C$9.21 billion for the quarter, compared to the consensus estimate of C$8.83 billion.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 17th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Thursday, June 16th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 35.26%.

In other news, Senior Officer Darren Fichter sold 750 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of C$78.51, for a total value of C$58,882.50. Following the completion of the sale, the insider now directly owns 73,402 shares of the company’s stock, valued at approximately C$5,762,791.02. Also, Director Stephen W. Laut sold 5,000 shares of Canadian Natural Resources stock in a transaction dated Monday, March 7th. The shares were sold at an average price of C$76.02, for a total transaction of C$380,100.00. Following the transaction, the director now directly owns 1,925,864 shares of the company’s stock, valued at C$146,404,181.28. Over the last quarter, insiders sold 150,365 shares of company stock valued at $11,768,064.

Canadian Natural Resources Company Profile (Get Rating)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

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